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Details emerge on Jay-Z and Kanye's "Watch The Throne"

Kanye West and Jay-Z perform, March 19, 2011, in Austin, Texas. Getty

(CBS) The rumors - unfounded - came and went that the highly anticipated Jay-Z and Kanye West collaboration "Watch the Throne" would be released July 4. The record remains unreleased but there's a pre-order page for it.

(Scroll down for video of Jay-Z and Kanye performing.)

Jay-Z and Kanye West's "Watch the Throne" Island Def Jam

Billboard reports Jay-Z held a listening session for the album and posted details on its Twitter page. Among the revelations: "Kanye and Jay-Z recorded whole album together, in same rooms. Didn't want to mail verses back and forth," tweeted Billboard.

There's a song-by-song breakdown over at AllHipHop.com. (Fun fact: Journalists were asked not to quote lyrics because some of them may change. So may song titles.)

After hearing the album, Chuck Creekmur writes, "[T]hat is the beauty of 'Watch The Throne.' Everybody won't love it and others will swear by it. It will be the topic of debates and hate. Through it all, it's very cool to see Hip-Hop artist evolving creatively. Fearlessly."

Read more at AHH.com and Billboard.